Fifth Third Bancorp Acquires 9,052 Shares of Datadog, Inc. (NASDAQ:DDOG)

Fifth Third Bancorp grew its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 410.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,255 shares of the company's stock after purchasing an additional 9,052 shares during the quarter. Fifth Third Bancorp's holdings in Datadog were worth $1,608,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in shares of Datadog by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company's stock valued at $39,735,000 after buying an additional 29,890 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Datadog by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,551 shares of the company's stock worth $5,518,000 after purchasing an additional 1,843 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Datadog by 5.4% in the 2nd quarter. Mackenzie Financial Corp now owns 22,484 shares of the company's stock worth $2,916,000 after purchasing an additional 1,152 shares during the last quarter. Algert Global LLC boosted its position in Datadog by 128.0% during the 2nd quarter. Algert Global LLC now owns 4,427 shares of the company's stock valued at $574,000 after purchasing an additional 2,485 shares during the period. Finally, Creative Planning grew its stake in Datadog by 7.1% during the 2nd quarter. Creative Planning now owns 14,578 shares of the company's stock worth $1,891,000 after buying an additional 963 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Datadog Price Performance

DDOG traded down $6.17 on Wednesday, reaching $145.72. 7,952,590 shares of the company traded hands, compared to its average volume of 4,064,948. The company has a market cap of $49.50 billion, a price-to-earnings ratio of 274.95, a PEG ratio of 16.28 and a beta of 1.14. The stock's 50 day moving average price is $148.05 and its 200-day moving average price is $129.18. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Insider Activity

In other Datadog news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 653,874 shares of company stock worth $93,721,154 in the last ninety days. Corporate insiders own 11.78% of the company's stock.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of recent research reports. Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 target price on the stock. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. Monness Crespi & Hardt raised Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price objective for the company in a report on Thursday, November 7th. TD Cowen reissued a "buy" rating and set a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Finally, Truist Financial lowered shares of Datadog from a "buy" rating to a "hold" rating and decreased their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.59.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.